US: UBS ups Molson's target share price
Investment bank UBS Warburg has raised its target share price for Canadian brewer Molson, following the brewer's recent announcement of additional cost savings.
UBS Warburg raised his 12-month target price 15% to C$37 after the company said on Friday it was looking at the additional savings, over and above its current three-year C$150m commitment to savings, in order to maintain its competitive edge.
The increase reflected the confidence in Molson's ability to deliver on its plans, the bank said.
Companies: Molson Coors
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